Ukraine: Vienna Insurance close to completing takeover of Universalna Insurance

Vienna Insurance Group A.G. is close to completing its takeover of Ukraine-based PJSC Universalna Insurance, a move that will expand its Ukrainian footprint to five subsidiaries, Xprimm reported citing Ukrainian news agency Forinsurer.

The deal, estimated to cost around $25 million to $30 million, is expected to be completed in March 2014. Sources have said Allianz S.E. was also considering the deal but the plans did not finalize.